Port of Piraeus Profit Up by 92%

The Piraeus Port Authority S.A. (PPA) 2017 financial report revealed profits before tax amounted to €21.2 million ($26.19 mln) compared to €11.0 million ($13.59 mln) in the year 2016, showing an increase of 92 percent.

Turnover amounted to €111.5 million compared to €103.5 million in the corresponding period of 2016, showing an increase of 7.7 percent.

The operations at the container terminal showed significant increase in revenue by € 7million (53.1 percent), where container throughput increased by 70.6 percent, meaning 453.264 TEU compared to 265.716 TEU in 2016, while the income from the concession fee of the Pier II and Pier III increased approximately by €3.4 million (8.4 percent).

Chairman and CEO of PPA SA Captain Fu Chengqiu stated: "The first full year of the new management in the port of Piraeus was marked by very positive results which are mainly attributed to the employees of the company. We believe that in the coming years, with the implementation of our investment plan which is already in progress, we will further improve both the business operation and the economic efficiency of PPA S.A."

The proposed dividend per share is €0.1712 compared to €0.0892 in 2016 – a 92 percent increase.